Sell-side IOI AutomationSell-side IOI Automation of InfoReach TMS

TMS allows user to publish IOIs either manually or invoke an automation.

TMS enables automation of IOI publishing where traders can make the system automatically update trading counterparts with up-to-date IOIs based on simple set of rules chosen by traders. IOIs can be delivered to the counterparts over direct FIX connection or IOI networks such as Bloomberg, Autex or InfoReach IOI Hub.

Manual vs. Automated IOI Sending

IOIMode setting of individual market target allows user to control IOI sending mode. The following methods are supported:

Auto - TMS sends IOI automatically. IOI quantity (IOIQty) is calculated based on a rule which can be configured. By default IOIQty is equal to the TgtLeaves.

Automated IOI Publishing

In order to enable automation of IOI sending set IOIMode to Auto. make sure IOIDestination is set to at least one publishing route. By default automatic IOI publisher set IOI quantity to the remainder of the parent order (TgtLeaves). Every time TgtLeaves change IOI publisher sends IOI modify reflecting the new parent order remainder. TMS makes it possible to customize how IOIQty gets calculated.

IOISmartBlocking - Controls whether the client gets IOI for the symbols they have submitted for trading. For example, if Same Side is selected then clients which submitted Buy IBM for trading will not be IOIed about IBM Buys. If Both Sides is selected then the client which submitted the order will not get IOIs about the same symbol. Setting the filed to None will allow publishing IOIs

IOIBlockedClients - Clients IOIs should not be sent to.

IOIMinPctADV - Lower percent ADV limit. No IOI quantity will be published which less than the value of this field. For example if available IOI quantity is 1,000 shares but IOIMinPctADVis set to 5,000 then no IOI will be published

IOIMaxPctADV - Upper percent ADV limit. No IOI quantity will be published which exceeds the value of this field. For example if available IOI quantity is 100,000 shares but IOIMaxPctADV is set it to 5,000 then IOI will have 5,000 as IOIQty